This recent piece published by Nielsen outlines How to build a resilient marketing strategy and make the case to keep your budget during economic downtimes.
We’re taking it a step further and applying their top 3 strategies to make the case specifically for influencer marketing.
STRATEGY #1: DOUBLE DOWN ON UNIQUE AUDIENCE REACH
Why?
Nielsen says: “During tough times, it’s even more important to grow your base and acquire new customers, especially as your current customers may change their spending habits. One of the best proxies available for new customer acquisition is unique audience reach.”
How can influencer help?
Influencer marketing is incredibly effective at reaching new potential customers. Between influencers’ unique audiences and our strategic paid strategies, we expand brand awareness to corners of social media that brand-led ads can’t get to.
Strategy #2: Define your audience—and then dig deeper
Why?
Nielsen says: “Consumers are likely to change their behavior during the economic downturn. Traditional demographic data may not be enough to identify your core audience. Augment [basic] data sets with psychographic, behavioral, purchase-based, and media consumption information.”
How can influencer help?
Boosting creator content with the right tools (social platform ads, mobile targeting) ensures you are serving the right content to the right audience at exactly the right time.
Strategy #3: Always be ready to adjust on the fly
Why?
Nielsen says: “Create a feedback system spanning all of our campaigns that allows for real-time adjustment, experimentation, and optimization. The potential for wasted spend is higher during a recession when whoever we’re targeting might be in a constant state of flux ”
How can influencer help?
A) Using influencer marketing to support all other marketing efforts is a great way to get almost immediate feedback on who’s responding to your messaging and how they’re responding to it.
B) We offer most of our creator programming in waves, so as to learn from and optimize our solution as we roll it out.
Thoughts? Suggestions? We'd love to hear from you! We're always happy to help our clients make the case for winning influencer marketing budget. Click to schedule a conversation with a specialist, or fill out the form below and we'll get right back to you.